At the end of the year, a company has a balance in Allowance for Uncollectible Accounts of $2,900 (debit) before any year-end adjustment. The balance of Accounts Receivable is $172,000. The company estimates that 7% of accounts receivable will not be collected over the next year.

Record the adjustment for uncollectible accounts. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)